by WSI ALM | Jan 30, 2023 | commercial truck financing
Getting financing for a commercial truck can be a daunting prospect, but it doesn’t have to be. With careful research and proper preparation, it is possible to secure the financing needed to purchase a commercial truck. Here is an overview of the steps you need to take to get financing for commercial trucks in San Diego.
Application Tips for Commercial Truck Financing
If you want to increase your chances of getting approved for financing, here are some tips:
Put Together All the Necessary Documents in Advance
There are quite a few things you’ll need throughout the financing process for a commercial truck in San Diego. Before you start, make sure you have the following documents:
- Valid government-issued identification
- Proof of residence
- Proof of income
- Credit report
- Business information and financials
- Vehicle information
Compare Terms, Rates, and Payments
Once you have all the necessary documents, it’s time to compare terms, rates, and payments. Make sure to look at the total cost of the loan, including interest rates, repayment terms, and any additional fees. Different lenders offer different loan terms and rates, so it’s important to compare them to make sure you’re getting the best deal possible.
Choose a Trusted and Reliable Lender
The last step before getting financing for a commercial truck in San Diego is to find a trusted and reliable lender. Research lenders online and read reviews to make sure you’re dealing with a reputable lender. It’s also a good idea to talk to a financial advisor to make sure you understand the terms of the loan and that you’re making the best decision for your business.
Answers to Your Common Questions About Commercial Truck Financing
Still not sure how to get started? Here are some of the most common questions about commercial truck financing:
Which companies offer financing for commercial trucks?
There are a number of lenders that offer financing for commercial trucks, including banks, credit unions, and specialized truck financing companies. Do your research and compare terms, rates, and payments to find the best lender for your needs.
Which eligibility criteria are important?
When applying for commercial truck financing, lenders will look at your credit score, business financials, and other factors to determine your eligibility. Make sure you have all the necessary documents in order to increase your chances of getting approved. The size, make, year, and mileage of the truck may also affect your eligibility.
How does it all work from start to finish?
Getting financing for a commercial truck in San Diego is a relatively straightforward process. Start by gathering all the necessary documents, compare terms and rates from different lenders, choose a trusted and reliable lender, and submit your application. From there, it’s just a matter of waiting for approval and signing the loan documents.
Get Financing for Your Commercial Truck in San Diego at C&M Motors
If you’re looking for financing for a commercial truck in San Diego, C&M Motors is here to help. We offer flexible financing options and can assist you in finding the best loan terms for your needs. Contact us today to learn more and get started with a quote.
by WSI ALM | May 25, 2022 | commercial truck leasing
The choices are many when it comes to buying a new commercial truck, but the options may be fewer as the prices of new and used vehicles continue to climb. Manufacturers are blaming the price increases on the inflation of the cost of materials as well as government safety and clean air standards, and regulations.
New or Used
Purchasing a new vehicle may certainly seem like the best option. You know everything about that vehicle from its maiden voyage – its maintenance history, accident history, etc. But can your business currently afford the cost of a new truck?
Here are some additional facts to weigh into the new vs. used decision. While the cost of purchasing new is definitely higher, the cost of maintenance is much lower with a new truck. New trucks are equipped with the latest technology helping companies save on fuel and other operating costs, plus they include safety features that can help drivers avoid accidents.
Other considerations in the new vs. used decision are the number of miles the truck will be driven. A truck that will be relied upon heavily and will be putting on thousands of miles per year might best be purchased new. While a truck that is used less frequently and may sit idle for days or weeks at a time, might best be purchased used.
Buy or Lease
Large carriers may have the means to purchase new vehicles with cash, but most companies today finance their vehicles. There are certainly good reasons to finance your truck purchases. The number one benefit is keeping the company’s capital available. But what makes most sense when financing, a loan, or a lease?
Let’s look at leasing first. Leasing payments may actually be lower for a higher quality vehicle as they cover depreciation, rather than equity in the truck. Companies such as NationaLease offer regional and local sources of loans and leases, making availability of financed vehicles easy to secure.
In contrast to the lease, financing a commercial truck has the advantage that once you have paid the loan, you own it. The residual value belongs to the company and depreciation can be claimed annually.
The best choice is to review the options with your accountant. They may recommend one over the other depending upon your current corporate finances. In many cases, a healthy mix of new and used, leasing and financing make for a diverse portfolio within your fleet.
Why C&M Motors
C&M Motors is a locally owned and operated family business serving the greater San Diego area since 1982. With 2 locations to serve you (National City and Vista), we offer a more personalized experience and customized services to meet your business needs. New and used, leasing and financing, as well as service, rentals, maintenance, collision, fabrication, parts, and 24/7 emergency roadside assistance are all available at C&M Motors.
Give us a call to learn more.
C&M Motors Inc
www.cmmotorsinc.com
(800) 736-3443
by WSI ALM | Jan 24, 2022 | Hino Dealership
Advantages of Purchasing a Truck from a Hino Dealership
The United States is home to millions of medium and heavy-duty trucks, be it certified pre-owned or new models. In the year 2021, over 200,00 medium and heavy-duty trucks were sold. If your business is looking for a truck, here are a few reasons to go through a trusted Hino dealership like C&M Motors.
Custom Financing
C&M Motors, NationaLease of San Diego, understands how important it is to keep your products rolling. Trucks are expensive and financing is a necessary part of the acquisition process. C&M Motors offers both new and used truck financing through two excellent lending sources Toyota Industries Commercial Finance and Hitachi Capital America Corp.
Customer Service and Experience
Right from the moment you visit the website of a truck dealer, to when you drive off from the dealership, you’ll have sufficient help from a knowledgeable truck dealer. C&M Motors offers superior maintenance services to keep your truck running great. Custom fabrication is where you can upgrade your truck with the specific equipment that fits your company’s requirements. You may want a toolbox installed, or a lift gate installed on your new truck. If you come to need a minor body repair after your purchase, C&M has a state-of-the-art collision and paint department that will make your truck look like new.
Enjoy Manufacturer’s Warranty
Only Hino provides a 5-year, unlimited miles Allison transmission warranty… STANDARD.
We’ve got your back. Covered that is. When you purchase a Hino Truck, you don’t need to worry if your truck breaks down. Hino offers a comprehensive warranty program that won’t leave you stranded.
Access to Advanced Features
Every new Hino model has a distinguishing feature that sets it apart from the other models. Given that truck dealerships are updated on all the different features that come with a new truck, it is easier for them to help you select a new truck that best suits your needs. If you are looking to compare the utility of certain features on different truck models, a truck dealer will help you pick a winner. C&M Motors has the knowledge and the experience to help you decide which Hino model is right for you.
When you are looking to buy any new truck, you’ll get the best options from an established Hino dealer like C&M. You can test drive several new Hino models before settling on one. You can only enjoy these benefits when you buy your new truck from a certified Hino dealership like C&M Motors. Contact us to learn more about all the new Hino models available.